Closed Chevron, Lowe's, aaaand JCP.

[youngandcreditwrthy]

I feel proud that I closed some accounts! Although now my util is something like 18% I think...
Closed:
$2100 Chevron opened 01/2012
$6500 JCP opened 08/2009
$15000 Lowe's opened 06/2009

Crazy to think that I'd ever wanna close $23,600 in credit.
Oh well, at least not Barclay's can't get mad at me for too much cred! Lol

I hope you are reading this lexie; you're like my mom on this forum! Lol ☺😜

[BearsAndTurtlesRtheBest]

My DS is doing the same, shes closed AE, and Macys, but still needs ON and Chevron, it feels good because you can see the progress from when you first started, Congrats! Time to update that siggy, Hey do you know if $10,000 is the highest you can go on Dillards CC?

[09Lexie]

Aw, young! You are like a son to me! I'm very proud of you. Remember, baby steps. Let this round of closures sit for awhile.

[longtimelurker]

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@09Lexie wrote:
Aw, young! You are like a son to me! I'm very proud of you. Remember, baby steps. Let this round of closures sit for awhile.

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What do you mean?  He's closed 3, reducing CL by $23K, and if THAT isn't a reason to apply for 6 more cards, I don't know what is!

[isoldmyatlas]

Great job, young!  And yes, update that siggy of yours!

[brianjb]

Can someone explain to me why it is good to close accounts?  If there are no annual fees, won't the amount of available credit help your score?  I am new, so please explain to me.

[09Lexie]

@longtimelurker

Please don't give him any ideas.

[09Lexie]

@brianjb

Sometimes it is a good idea to trim excess weight. Reasons why you might want to close tls:

lenders may perceive too much avail credit as a risk;
its easier to manage;
Cleaner CR's
reduces chance of fraud - just to name a few reasons.

[tcbofade]

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@longtimelurker wrote:

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@09Lexie wrote:
Aw, young! You are like a son to me! I'm very proud of you. Remember, baby steps. Let this round of closures sit for awhile.

---

What do you mean?  He's closed 3, reducing CL by $23K, and if THAT isn't a reason to apply for 6 more cards, I don't know what is!

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LOL!  Now cut that out!

[youngandcreditwrthy]

Idk? I know that most of my other GE accts have gone past that $10,000 cl. Seems like GE doesn't really deny a cred solutions cli UNLESS
A. You have $100k in cred w them
B. you start getting $15-25k cls on one of their cards

Took several attempts to get my Paypal
MC from $20k to $25k.

The reason I think it was good to close those accts is that I had $97,600 w GECRB alone and then $170k cred total.
Citi Diamond was auto-closed and Barclay's tried to pull some s*** too. So my other lenders will likely be happier when they see the overall credit reduced by that much.

Also, my util wasnt affected much since I had $0 balances on every account I closed.

I will need a goood balance transfer card in a couple of months so lol I just freed up some cred to do so.

There was no hit to my Exp score so that's good!